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Subsequent Event
6 Months Ended
Dec. 31, 2016
Subsequent Event  
Subsequent Event

17. Subsequent events 

 

On February 10, 2017, the Company signed a lease for an approved culinary manufacturing facility, located in Los Angeles, CA, in support of its planned launch on a new culinary product called Sriracha Seasoning Stix.  The lease is for a twelve (12) month period at a rate of $1,900 per month.

 

On February 7, 2017, the Company entered into a convertible promissory note with an accredited investor for $50,000. The note has a term of six (6) months with an interest rate of 8% and is convertible into common shares at a 40% discount.

 

On February 7, 2017, the Company entered into general consulting agreement concerning Cannabis related packaging, 750,000 restricted common shares granted as of the contract date. Shares have not been issued as of the filing date.

 

On February 2, 2017, the Company issued 8,045,000 common shares in exchange for the conversion of $25,000 of convertible debt and accrued interest of $15,225.

 

On January 24, 2017, the Company entered into a convertible promissory note with an accredited investor for $43,000. The note has a term of six (6) months with an interest rate of 8% and is convertible into common shares at a 45% discount. The Company received a net amount of $38,000, after fees.

 

On January 20, 2017, the Company entered into a convertible promissory note with an accredited investor for $80,000. The note has a term of six (6) months with an interest rate of 8% and is convertible into common shares at a 40% discount.

 

On January 17, 2017, the Company entered into a convertible promissory note with an accredited investor for $25,000. The note has a term of six (6) months with an interest rate of 8% and is convertible into common shares at a 40% discount.

 

On January 1, 2017, the Company entered into settlement agreement with legal counsel David Nemecek, company agreed to issue 300,000 restricted common shares for settlement of $16,074.